Financial Results : Saudi Ceramics turns to SAR 210.4M net loss in 2023; Q4 loss at SAR 89.8M

Saudi Ceramics turns to SAR 210.4M net loss in 2023; Q4 loss at SAR 89.8M

24/03/2024 Argaam Exclusive

View other reports

Saudi Ceramic Co. (Saudi Ceramics) reported a net loss of SAR 210.4 million for 2023, versus a net profit of SAR 173.9 million a year earlier.



Financials (M)

Item 2022 2023 Change‬
Revenues 1,484.96 1,314.87 (11.5 %)
Gross Income 452.34 237.32 (47.5 %)
Operating Income 184.75 (20.80) (111.3 %)
Net Income 173.92 (210.35) (220.9 %)
Average Shares 100.00 100.00 -
EPS (Riyals) 1.74 (2.10) (220.9 %)

The losses were attributed to lower sales on a decline in selling prices, higher raw material cost and financing cost.

 

The ceramic producer also allocated a SAR 165 million provision to meet the impact of a fire in one of its factories. In addition, the company recognized an asset impairment of SAR 78 million in its subsidiary, Ceramic Pipes Co.

 

On the other hand, Saudi Ceramics recorded lower general and administrative expenses, as well as higher other income.

 

Q4 2023 net loss stood at SAR 89.8 million, against a net profit of SAR 41.8 million a year earlier.

 

On a quarterly basis, net losses shrank from SAR 168.5 million in Q3 2023.



Current Quarter Comparison (M)

Compared With The
Item Q4 2022 Q4 2023 Change‬
Revenues 383.42 381.29 (0.6 %)
Gross Income 108.37 23.25 (78.5 %)
Operating Income 47.37 (36.58) (177.2 %)
Net Income 41.88 (89.79) (314.4 %)
Average Shares 100.00 100.00 -
EPS (Riyals) 0.42 (0.90) (314.4 %)

Total shareholders’ equity, after minority interest, fell to SAR 1.50 billion as of Dec. 31, 2023, compared to SAR 1.75 billion a year earlier.

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.


Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.